Let’s Recycle, an Ahmedabad-based dry waste management company and the parent company of Nepra Resource Management Private Limited raised a total of US$ 18 million held in November 2020. Nepra had recently concluded its Series C funding round.
The fresh round was led by Circulate Capital and Aavishkaar Group’s investment body, Aavishkaar Capital.
Nepra is the largest collector and processor of dry waste in India and provides unique dry waste management solutions. The company has partnered with more 2,000 waste pickers that collect dry waste in one place, and it is said to process over 500 tonnes of dry waste on a daily basis from across Indore, Pune and Ahmedabad.
Sandeep Patel, Co-founder and CEO at Nepra, mentioned in a statement that these newly acquired funds will be used by the company to strengthen its efforts to expand operations nation-wide and reinforce the company’s roots to cater to the ever-increasing needs of Indian cities regarding dry waste management solutions.
Rob Kaplan, CEO and Founder of Circulate Capital commented on this investment that companies like Nepra are creating job opportunities from managing plastic pollution, their unique waste management solution has converted into a resource for job opportunities in the country which directly serves the economy.
Additionally, Nepra is working closely and efficiently with municipalities to sort and segregate dry waste which consequently improves their revenues and ensure proper collection for recyclers. The company also plans to improve at every step of its value chain while also maintaining efficiency.
About Let’s Recycle
Nepra Resource Management Pvt Ltd’s initiative Let’s Recycle aims to bring in environmental solutions that can help communities and organizations become sustainable. The company uses a zero waste to landfill model in managing dry waste which segregates recyclable dry waste away from landfills and hence, providing high-quality recyclable waste materials to recycling agencies. On the other hand, non-recyclable waste is utilized for energy recovery, according to reports.
Founded in 2012, the Gujarat based company has helped more than 500 achieve a particular level of sustainability. It is the only waste management organization in India to have developed an Enterprise Resource Planning (ERP) system to track and monitor their activities so as to make the system more authentic and efficient.
About Circulate Capital
Founded in 2018, Circulate Capital is an investment management firm focused on incubating and financing companies and infrastructure that prevent ocean plastic. It is headquartered in New York, USA. They were created in collaboration with Closed Loop Partners and Ocean Conservancy.
About Aavishkaar Capital
The firm pioneered the venture capital approach of investing in early-growth stage enterprises in India in 2001, with a target on geographies and sectors that were often overlooked and challenging. Aavishkaar Capital has gone on to close 6 funds to date, with close to half a billion dollars in AUM today. The company has its headquarters in Mumbai, India.
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